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Wednesday, October 28, 2020

Is Now the Time to Invest in Forum Merger II Corporation (NASDAQ:FMCI)?

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Forum Merger II Corporation (FMCI) shares are trading at higher $22.16.

To add more color to this target, the company’s high over the last year is $28.64 and the low is $9.76. Over the last 52 weeks, FMCI is up 120.06% while the S&P 500 is up 18.10%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, FMCI reported a profit of $0.54 million. Forum Merger II Corporation also saw revenues increase to $0.54 million. In addition, FMCI has free cash flow of -$1.62 million as of 06-2020. The company’s EBITDA came in at -$0.54 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. FMCI has a short ratio of 0.51 and outstanding shares of 20.65M.

Company Outlook

FMCI has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -0.25. Forum Merger II Corporation FMCI also noted assets of $207.91 million at the end of the last quarter. Investors should also keep an eye on sector updates as FMCI has historically followed its peers on positive news.

All told, Forum Merger II Corporation FMCI has strung together solid data and demonstrated underlying fundamentals. At its current valuation, FMCI represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Forum Merger II Corporation FMCI is now commanding a market cap of 457.61M and a float of 1.93M. FMCI is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of FMCI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in FMCI, either long or short, and we have not been compensated for this article.

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